Polymer Research Corp. of America, incorporated in 1963, is principally engaged in research and development in polymer chemistry, on a contract basis, particularly in the application of chemical grafting, including techniques for modification of organic and inorganic substances. The Company also manufactures and sells products arising from research activities and textile printing inks. Revenue from research and production is derived from various customers throughout the United States and worldwide. Research and Development Contract Work The Company's principal business is that of research and development on a contract basis for other companies in the field of polymer chemistry, including the chemical creation and use of polymers. Polymers are essentially compounds of high molecular weight, such as plastics and resins. Polymers result from chemical reactions of compounds with low molecular weights, called monomers, which react to form a polymer. Generally, a polymerization reaction, such as the chemical creation of a polymer, entails the application of heat to a solution containing the appropriate monomers, in the presence of a catalyst; the result of the reaction can include one or more kinds of polymers. The Company owns four patents for its chemical grafting technology. By using chemical grafting techniques, Polymer Research can form a permanent scratch and corrosion-resistant protective coating on plastics, rubber, metals and other substances. Based upon its research, the Company has found that there are many other practical applications of these techniques that have not yet been fully developed or discovered. Research and development contract work for specific application of the Company's chemical grafting techniques has been done for pharmaceutical companies and manufacturers of industrial equipment, tires, packaging material, pipes, tubes and plastic films, among other enterprises. Production Polymer Research manufactures formulations resulting from research work predominantly as an accommodation for the companies for whom the research work was done. It also has, since its inception, produced and sold color inks and components thereof. These products are used by textile businesses for the printing of textiles.